Within hours of his inauguration ceremony, Donald Trump made good on his pledge to reverse dozens of his predecessor’s executive orders, including the revocation of the mandate governing electric vehicle (EV) sales though to 2030. It comes after Trump’s transition team had previously signalled that the new administration would eliminate support measures for EVs, including the cessation of tax credits, although several of the existing subsidies are codified within the Biden administration’s Inflation Reduction Act, so any changes might require an act of Congress.
Trump also set the US on the path to withdrawing from the World Health Organization, a decision prompted by the Geneva-based institution’s handling of the Covid-19 pandemic, although the executive order also claims that the US was routinely on the hook for “unfairly onerous payments” – a complaint that Trump had previously levelled at Nato.
Another measure that hogged the headlines was the president’s instruction to all US government departments to end remote work arrangements and require employees to return to the office on a full-time basis. Doubtless the new administration will face legal challenges from unions representing public sector workers. But based on developments on both sides of the Atlantic early this year, Trump appears well attuned to the zeitgeist. In the UK, companies from Barclays (BARC) to WPP (WPP) have set minimum attendance requirements, while other high-street stalwarts such as Boots and JD Sports (JD.) are insisting that employees are required in the office five days a week. Although there is no doubt that hybrid working arrangements still hold sway, and there is certainly a marked variance across sectors, the direction of travel is clear enough.